Min - Economic Development Corporation - 2016 - 02/22 - Special CalledALLEN ECONOMIC DEVELOPMENT CORPORATION (AEDC)
BOARD OF DIRECTORS SPECIAL CALLED MEETING
MONDAY, FEBRUARY 22, 2016
Board
Scott Sutherland
Staff
Daniel Bowman
Michael Schaeffer David Ellis
Greg Kennedy Tracey Cline
Joey Herald Nichole Vance
Jeff Burkhardt Pete Smith
Peter Vargas
Call to Order and Announce a Ouorum Present
Guests
Derrick Evers
Nick Summerville
Lee A. White
With a quorum of the Board present with members Scott Sutherland, Michael Schaeffer, Greg
Kennedy, Joey Herald and Jeff Burkhardt in attendance, the Special Called Meeting of the Allen
Economic Development Corporation (AEDC) Board of Directors was called to order by President
Sutherland at 6:00 p.m. on Monday, February 22, 2016, at the AEDC Office.
1. Convene into Closed Executive Session: Pursuant to Texas Government Code, Section 551.087:
Deliberation of Economic Development Negotiations; To Deliberate Commercial and Financial
Information and Economic Incentives for the Following and Pursuant to Texas Local Government
Code, Section 551.072 Deliberation Regarding Real Property:
a. Consider Development Strategy and Incentives for Watters Creek Office Park and the
Sale of Real Property Within the Park
The Board convened into closed session at 6:02 p.m.
Reconvene into Open Session
The Board reconvened into regular session at 7:38 p.m.
2. Actions Resulting from Executive Session
On a motion by Michael Schaeffer, seconded by Greg Kennedy, the Board voted with four Board
members in favor and one opposed, to approve the Memorandum of Understanding between the Allen
Economic Development Corporation and Kaizen Development Partners, LLC, and the Purchase and
Sale Agreement between the Allen Economic Development Corporation and Kaizen Development
Partners, LLC. The Board authorized the Executive Director to execute the agreements on behalf of
the Allen Economic Development Corporation.
AFDC Meeting Minutes
February 22, 2016 - Page 2
3. Adjournment
On a motion by Jeff Burkhardt, seconded by Joey Herald, the meeting was adjourned at
7:40 p.m.
These Minutes approved this 29'x' day of February, 2016.
Scott Sutherland, President Michael Schaeffer, Vice President